Recovery Calculation for Non-Prop OCC Fac
The claims must be subject to recovery, and also linked to the Non-Prop Fac OCC, or Fac Program.
Protection Program Fac
| Section | Cover | Excess | Agg Limit | OCC Share |
|---|---|---|---|---|
| OCC1 | 100 000 | 100 000 | 200 000 | 90 % |
Note! The OCC Facmust have a share defined.
Inward claims with protection assignment and bookings:
| Claim | Retroceded % | Paid FGU | Reserve FGU | Inward Share |
|---|---|---|---|---|
| Claim 1 | 100 % | 16 000 | 6 000 | 10 % |
| Claim 2 | 100 % | 13 000 | 5 000 | 10 % |
| Claim 3 | 100 % | 12 000 | 2 000 | 10 % |
| Claim | Retention Paid | Recovery Paid | Recovery Reserve |
|---|---|---|---|
| Claim 1 | 100 000 | 44 000 | 54 000 |
| Claim 2 | 100 000 | 17 000 | 45 000 |
| Claim 3 | 100 000 | 8 000 | 18 000 |
Explanation:
The booked claim amount is adjusted by the inward share and occ share as follows: Booked claim amount/Share on inward business * share on fac occ * retroceded percentage